In most homes, the screws holding the front door’s lock plate are just a few centimeters long, barely enough to hold the lock plate in place. Most home invaders come through the front door, whether they pry or kick it open. Just like home invasions, most cybercriminals walk right through your “online front door,” and a simple firewall or antivirus are like insufficient screws, just waiting to be exploited.

It might be time for your business to go back to the cybersecurity basics by partnering with Nexus IT, and make data security a top priority.

Should Cybersecurity Basics Be a Top Priority for Your Business?

Do you know which threats your business faces? From phishing scams to ransomware attacks, cybercriminals are constantly evolving their tactics to target businesses of all sizes. Here are the most dangerous threats to small businesses in 2024:

  • Phishing Scams: These fraudulent emails, texts, and social media messages are designed to trick individuals into giving away sensitive information or downloading malware.
  • Ransomware Attacks: This type of attack encrypts a business’s data and demands payment in exchange for the decryption key. If not paid, the attackers may delete the data permanently.
  • Insider Threats: Employees or former employees with malicious intent can pose a significant threat to a company’s cybersecurity, as they have access to sensitive information and systems.
  • Malware: Malicious software can be downloaded onto a computer or network, allowing cybercriminals to gain unauthorized access, steal data, or cause damage.

Say one of your employees forgets the cybersecurity basics and clicks on a link in a phishing email, unknowingly installing malware on your company’s network. What happens next? Here are just some of the consequences your business could face:

  • Data Breaches: Cybercriminals can access and steal sensitive information, such as customer data, financial records, or trade secrets.
  • Financial Losses: Companies may suffer significant financial losses due to ransom payments, legal fees, or lost revenue from interrupted operations.
  • Reputation Damage: A data breach or cyber attack can damage a company’s reputation and erode customer trust.
  • Legal Repercussions: Depending on the severity of the breach, businesses may face legal consequences for failing to protect sensitive information.

While the cost of a data breach varies depending on the size and industry of a business, the average global cost in 2023 was $4.45 million, up 2.3% from 2022.

Is a Firewall Enough?

A firewall is a crucial security measure for any business, but it’s not enough to protect against all cyber threats. The same goes for antivirus software—while it can detect and remove known malware, it may not catch newer or more sophisticated threats. Cybersecurity requires a multi-layered approach that includes:

  • Network Security: Firewalls, intrusion detection systems, and other network security measures can help protect against external attacks.
  • Endpoint Security: This involves securing all devices connected to a network, including laptops, smartphones, and IoT devices.
  • Access Control: Limiting access to sensitive information or systems through strong passwords, multi-factor authentication, and user permission levels can help prevent insider threats.
  • Data Encryption: Encrypting sensitive data can make it unreadable to unauthorized users, adding an extra layer of protection in case of a breach.
  • Regular Updates and Backups: Keeping all software and systems up to date with the latest security patches can help prevent vulnerabilities from being exploited. Regular backups of important data can also help mitigate the impact of a cyber attack or system failure.

Nexus IT Has the Cybersecurity Solution Your Business Needs

Instead of relying on just a flimsy firewall to protect your business, consider working with a trusted IT partner like Nexus IT. We offer comprehensive services, both cybersecurity basics and advanced security, tailored to the specific needs of small and medium-sized businesses.

Our team of experts stays up-to-date on the latest cyber threats and can help implement a multi-layered security approach to keep your company safe. Reach out today to meet our team and see if we’d be a good fit!